Quintain has signed its largest construction contract to date, awarding £227m to John Sisk & Son (Sisk) to deliver two new Build to Rent buildings – currently known as NE02 and NE03 – and public green space at Wembley Park. The announcement follows yesterday’s news that Quintain has finalised a £277m financing deal with J.P. Morgan to deliver the new buildings.
The contract between Quintain and Sisk has been agreed at a fixed price. This outcome was achieved through early engagement with the wider contractor framework, which aimed to cultivate transparency and a fair allocation of risk.
“Whilst the wider economic picture may be one of uncertainty, Quintain is committed to delivering hundreds of new homes for London at the right time and cost. This landmark contract signing is testament to our continued momentum at Wembley Park and our unwavering success at the site for the past 20 years. It gives me great pleasure to bring the North East Lands development forward with Sisk, our long-term construction partner and valued member of our contractor framework.”James Saunders, CEO, Quintain
This construction contract signed between Quintain and Sisk follows 18 years of collaboration between the two businesses at Wembley Park. Previous projects have included the site’s flagship Build to Rent development Canada Gardens, the 472-home Emerald Gardens development, London Designer Outlet, the Hilton London Wembley Hotel, and the reconfiguration and refurbishment of the Grade 2 listed Wembley Arena (now the OVO Arena Wembley).
“John Sisk & Son is thrilled to have formally signed contracts with Quintain for both NE02 & NE03 projects. This is the largest contract we have signed to date with Quintain and the first developments at North East lands. Sisk has an 18-year history at Wembley Park with our client, Quintain. Together, we have created over 2,000 homes, along with a 365-bed hotel, 660-bed student resident units, a 1,000-bay car park, and over five acres of incredible public realm, with another 817 homes now currently under construction.
“This demonstrates our longstanding relationship with Quintain and the dedication of our staff and supply chain partners. We are extremely excited by this next leg of the journey at Wembley with Quintain, and look forward to creating this new neighbourhood within Wembley Park.”Ajaz Shafi, COO, UK & Civils, John Sisk & Son
The two Build to Rent developments will include 769 homes and will be the first to be delivered at Wembley Park’s North East Lands development. North East Lands is expected to deliver a total of 2,000 homes.
The homes will be delivered alongside the completion of the first park in Wembley for over 100 years – the seven acre Union Park. Three and a half acres have already completed and is open to the public alongside children’s play areas and water features. Once complete, Union Park will feature community amenities for local residents and the public.